Solve the following logarithmic equations.
Mr Wong deposits $20000 in a bank at 6% p.a.At least how many months does it take for him to get an amount more than $35000 if the interest is compounded
(a)half-yearly,
(b)monthly?
F.4 Number and Algebra
2009-11-15 7:45 pm
回答 (1)
2009-11-15 8:24 pm
✔ 最佳答案
(a) 20000(1+3%)^n =35000
(1.03)^n = 35000/20000
log(1.03)^n = log[35000/20000]
nlog(1.03) = log1.75
n = 18.93....
i.e. it takes 6x19months =114 months....
(b)
20000(1+0.5%)^n =35000
(1.005)^n =35000/20000
nlog(1.005) = log1.75
n= 112.2...
i.e. it takes 113months....
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